Has anyone tried Fidelity Go? If so Pro’s and Con’s? I am looking into it but what to see if it’s worth it. Thanks in advance.
Fidelity Go is a new, low-cost robo advisor from Fidelity Investments. It offers a simple way to invest in mutual funds with no minimum account balance or annual fee.
Fidelity Go puts your money into a diversified mix of investments, automatically rebalances your portfolio, and reinvests your dividends so you can grow your money over time. You can open an account for as little as $10.
Fidelity robo advisor has a very straightforward fee structure:
- No advisory fees for an account with a balance under $10,000.
- Fidelity starts charging $3 once your account balance gets to $10,000–$49,999.
- For accounts with a balance of $50,000 and above, Fidelity will charge 0.35% per year.
It’s important to point out that you can not buy and sell individual stocks in your Fidelity Go account. The trading is done by Strategic Advisers LLC.
Your Fidelity Go account will hold a mix of stocks through Fidelity zero expense ratio funds or known as Fidelity Flex mutual funds.
When it comes to robo advisors, there are a lot of them to choose from. So, is Fidelity Go worth it?
That depends on your needs and preferences. They offer a wide variety of features. For example, they have no account minimums, which is great for anyone just starting out. They also provide a diverse range of investment options, such as stocks and bonds.
I think if you are looking for a low-cost investment option and are comfortable with letting a computer manage your portfolio, then Fidelity Go Robo Advisor may be a good fit for you.
The biggest downside to Fidelity Go is that you don’t have a say in the day-to-day management of your portfolio. You can’t execute trades on your own. That would fall under a non-advisory account.
Had Fidelity Go since August 2020 for both my traditional IRA and Roth. No complaints. They diversify my IRA’s among S&P 500 index funds, international stock index funds, bonds, mid cap and small cap index funds.
I started using Fidelity to get away from robo advisors like Acorns. I just got to the point where I wanted a little more say in the companies I invest in. But if you don’t have time to research, I’m sure it’s a fine option.
Fidelity has a great research platform, so if you have time I recommend that you do your research on how you want to build your portfolio and do it yourself. What robo advisors do is so simple that you can do without paying the fees.
I did open a Wealthfront robo advisor account for taxable investments, and then I opened a Roth IRA with Fidelity. I’m still researching and building my portfolio, and I’m thinking about transferring the taxable account to Fidelity next and taking control of it because it wasn’t worth it.
I have been putting IRA money into Fidelity Go. Can I move it out to another IRA account? Is that advisable if I do?
I’m not a fan of any of the robo advisors that simply buy ETFs for you. You can do that yourself. Fidelity Go is only free up to 10k. After that you could just buy the ETFs yourself and save the fee.
I’m trying out the Fidelity Go robo investor. I deposited money into it and set my aggression scale. Up and running now just took a couple days to get them set up.
I use Fidelity Go, it’s free until my portfolio reaches $10k. I don’t know much about investing, but I just wanted to get my foot in the door so I can eventually manage things myself. I still don’t know where to start.